Potlatchdeltic Corp (PCH) Declares $0.40 Quarterly Dividend

Potlatchdeltic Corp (NASDAQ:PCH) announced a quarterly dividend on Friday, December 7th, RTT News reports. Investors of record on Friday, December 7th will be given a dividend of 0.40 per share by the real estate investment trust on Monday, December 31st. This represents a $1.60 annualized dividend and a yield of 4.51%.

Potlatchdeltic has raised its dividend by an average of 2.3% per year over the last three years. Potlatchdeltic has a payout ratio of 54.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Potlatchdeltic to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 89.4%.

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Potlatchdeltic stock opened at $35.48 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 13.17, a PEG ratio of 3.06 and a beta of 1.19. Potlatchdeltic has a 12-month low of $33.09 and a 12-month high of $55.75. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Potlatchdeltic (NASDAQ:PCH) last released its earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.01). The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $288.27 million. Potlatchdeltic had a return on equity of 15.77% and a net margin of 14.23%. The company’s revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. Analysts forecast that Potlatchdeltic will post 2.45 EPS for the current year.

A number of equities research analysts have issued reports on PCH shares. DA Davidson raised shares of Potlatchdeltic from a “neutral” rating to a “buy” rating and cut their price objective for the company from $52.00 to $50.00 in a report on Tuesday, October 30th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Potlatchdeltic from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 6th. ValuEngine raised shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a report on Monday, August 20th. BMO Capital Markets cut their price objective on shares of Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Finally, BidaskClub raised shares of Potlatchdeltic from a “strong sell” rating to a “sell” rating in a report on Thursday, November 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Potlatchdeltic currently has an average rating of “Hold” and a consensus price target of $51.00.

Potlatchdeltic announced that its board has initiated a stock buyback program on Thursday, August 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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About Potlatchdeltic

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.